Neonatal And Prenatal Devices Market Size (2024 - 2029)

Neonatal and Prenatal Devices Market Analysis

The Neonatal And Prenatal Devices Market size is estimated at USD 7.84 billion in 2024, and is expected to reach USD 10.78 billion by 2029, growing at a CAGR of 6.58% during the forecast period (2024-2029).

The COVID-19 pandemic has significantly impacted the neonatal and prenatal devices market. According to an October 2020 single-center study with the title, 'The effect of the COVID-19 pandemic on maternal health due to delay in seeking health care: Experience from a tertiary center', published in the International Journal of Gynecology and Obstetrics, inadequate prenatal visits were observed in one-third of the women. Lockdown and fear of infection were the top reasons for delayed health-seeking, resulting in 44.7% of pregnancies with problems. Also, according to a July 2020 report published in the Gynecologic and Obstetric Investigation, infection with COVID-19 during pregnancy increases the risk of pregnancy problems such as preterm birth, preterm premature rupture of the membranes, and, in rare circumstances, maternal mortality. Thus, the market is predicted to rise due to the increased need for care.

The major factors for the growth of the neonatal and prenatal devices market include the rising incidence of preterm births, increasing awareness of prenatal and neonatal care, and government initiatives to provide better care for prenatal and neonatal infants.

Babies are prone to various health risks, while low-weight birth is when babies are born weighing less than 5.8 pounds. Preterm births are one of the major factors responsible for low-weight births. Preterm and low-weight babies are prone to various medical conditions and infections, and in the treatment of these diseases various neonatal and prenatal devices are used, which is expected to fuel the growth in the market over the forecast period of the study. For instance, as per a research study published in July 2020 titled 'Global Burden of Preterm Birth', every year, about 15 million babies are born preterm around the world, with diseases global preterm birth rate of about 11%. Similarly, according to the European Union Research and Innovation Magazine's report of July 2020, approximately 500,000 premature babies are born every year in Europe, and the number of premature babies in the region is increasing due to the increasing prevalence of diabetes and obesity among the women along with the rise in multiple births due to the fertility treatments, and these factors will add to the growth of the studied market.

Further, according to the Centers for Disease Control and Prevention (CDC) data updated in November 2021, preterm birth affected 1 of every 10 infants born in the United States in 2020, and these babies are at a higher risk of death and disability. These babies require specialized care. Hence, the demand for neonatal and prenatal devices is expected to grow exponentially.

In addition, rising key market initiatives by the market players are also expected to drive market growth due to the rise in adoption. For instance, in May 2020, Dragerwerk AG & Co. KGaA launched the Evita V600 and V800, as well as the Babylog VN600 and VN800, devices for acute care ventilation of adults and preterm babies, and the devices were made available for purchase all over the world.

However, low birth rates in developed countries and lack of awareness and economic constraints in developing countries are the major factors hindering growth in neonatal and prenatal devices.

Neonatal and Prenatal Devices Industry Segmentation

As per the scope of this report, fetal monitoring devices are vital tools that are routinely used in gynecology and obstetrics interventions to examine fetal health during labor and delivery. Neonatal devices are extensively used in the Neonatal Intensive Care Units (NICUs), where complex machines and monitoring devices are designed for the unique needs of tiny babies. The Neonatal and Prenatal Devices Market is segmented by Product Type (Prenatal and Fetal Equipment, and Neonatal Equipment), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.